For many years, those of us in the oil and gas industry were free to focus on our core businesses: exploration, product development, and distribution. Today, the inevitability of an increasingly regulatory environment is a given. In fact, Vapor Point's core business is built around helping you achieve regulatory compliance in the most efficient ways possible. (Contact Us button)
We believe that there is a business case to be made for going beyond existing minimum compliance standards—even for early deployment of environmental requirements that are on the regulatory horizon, but aren't yet in place.
As important as shareholders' traditional financial interests are, a broader collection of stakeholders determine the overall health of our businesses. Stakeholders include shareholders, employees, contractors, vendors, local communities, customers… the list goes on and on. This group of stakeholders collectively drives the actions of the regulatory agencies. Business decisions should seek to balance and coordinate all stakeholder interests. Shareholder concerns are not diminished, and certainly are not marginalized; instead they become one very important part of a larger synergistic puzzle.
Today, more and more forward-thinking companies in every industry recognize that a narrow, bottom-line approach to business can ultimately limit profitability and threaten long-term viability. Their business vision and market strategies align in such a way that traditional measures of success must be expanded. New economic metrics include an integrative approach to ROI, one that considers social and environmental outcomes alongside the P&L. Triple bottom line standards of accounting—which connect sustainability investments to employee “buy-in” and customer loyalty—permit analysis of the effects of business decisions on all stakeholders. Going beyond compliance can pay immediate and long-term dividends. Even in purely monetary terms, many companies have discovered the benefits of pursuing sustainable practices.
The benefits of being proactive with environmental compliance apply to businesses of every size. Going beyond compliance enhances safety today and minimizes risk tomorrow— ensuring your company's long-term sustainability. A focus on safe operations saves valuable man-hours in lost time, and countless dollars in the avoidance of punitive financial settlements that come with accidents. Health issues related to vapor releases or contaminated water could become actionable decades into the future. Initiatives to minimize hazardous vapors and other releases are simply extensions of your acknowledged responsibility for safeguarding your employees, your communities, and the environment.
Let us take on the burden of satisfying the regulators.
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